Howard Hughes Holdings (HHH) got here out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to lack of $0.26 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 926.32%. 1 / 4 in the past, it was anticipated that this land developer would submit earnings of $0.28 per share when it really produced earnings of $0.42, delivering a shock of fifty%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Howard Hughes Holdings
The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Howard Hughes Holdings shares have misplaced about 11.8% for the reason that starting of the yr versus the S&P 500’s achieve of 20.1%.
What’s Subsequent for Howard Hughes Holdings?
Whereas Howard Hughes Holdings has underperformed the market to date this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful observe file of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Howard Hughes Holdings: favorable. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $3.69 on $931.51 million in revenues for the approaching quarter and $3.28 on $1.7 billion in revenues for the present fiscal yr.
Traders must be aware of the truth that the outlook for the business can have a fabric influence on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Actual Property – Improvement is at present within the prime 32% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the broader Zacks Finance sector, Eagle Level (ECC), is but to report outcomes for the quarter ended September 2024. The outcomes are anticipated to be launched on November 14.
This administration funding firm is predicted to submit quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of -17.7%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Eagle Level’s revenues are anticipated to be $43.76 million, up 21.5% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
